Alan Ramsay Sells 2,486 Shares of Maplebear Inc. (NASDAQ:CART) Stock

Maplebear Inc. (NASDAQ:CART) CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at $4,106,922.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Alan Ramsay also recently made the following trade(s):

• On Monday, July 22nd, Alan Ramsay sold 2,626 shares of Maplebear stock. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52.

Maplebear Stock Up 1.0 %

NASDAQ:CART opened at $40.50 on Thursday. The company has a 50-day moving average of $34.93 and a 200-day moving average of $34.80. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.58.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The firm had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts predict that Maplebear Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CART. Norges Bank bought a new position in Maplebear during the 4th quarter worth approximately $78,674,000. Sculptor Capital LP bought a new position in Maplebear during the 2nd quarter worth approximately $77,361,000. Federated Hermes Inc. boosted its stake in Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after acquiring an additional 876,439 shares during the last quarter. SG Americas Securities LLC bought a new position in Maplebear during the 1st quarter worth approximately $31,109,000. Finally, Lord Abbett & CO. LLC bought a new position in Maplebear during the 1st quarter worth approximately $28,674,000. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CART. KeyCorp began coverage on shares of Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Wedbush boosted their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup boosted their target price on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.33.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.